Wildly low estimates. Triple them at least.
I agree. What’s missing from this is at that these wages, a lot of their costs are shifted to the taxpayer to subsidize housing, insurance, and food. And, at these low levels, people dependent on it won’t have time or ability to gain an education to move up. It’s a trap for most people.
At least triple them. Rent for a decent studio in NYC is 3500.00 a month and you need to have at least 400K in the bank to qualify. I know, I had to sign for my daughter to live in Brooklyn. To co-sign I had to prove I had over 400K in cash in the bank And she had to clean the apartment just to move in. And she had to sign a 5 year lease.
I haven’t made that little since 1993.
the highest - San Fran- is only $13k per year.
not hardly likely
sorry, didn’t read the whole thing, the chosen excerpt wasn’t clear either
“Hourly wage needed to cover basic costs: $35.98”
that makes more sense
Just a crude estimate
$5756.80 a month gross.
$69,081.60 annual gross.
Minus
California Income tax at .093
$6424.58
Minus Federal Tax at .22
$15,197.95
Minus SS and Medicare .0765
$5284.74
Net Conservatively
$69,081.60 Income
$26,907.27 Taxes
______________
$42,174.33 in San Francisco
Then rent basic $1000 to $3000 depends on location
So say $3000 monthly equals $36,000 a year
So you work 7 months before you pay yourself.
Balance a year for utilities, insurance, transportation, medical and oh yes, Food
$6174.33
I could be off on figures but don’t believe the initial rate of $35.98 an hour will be enough. IMHO?